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CNBC 84
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CNBC
Sep 13, 2012 6:00am EDT
to building bridges between the united states and the arab and muslim world, particularly libya. and i think this is going to sour a lot of americans about the future trajectory of the middle east, about the direction in which the arab spring is headed. and i think particularly this is tragic for syrians. syrians who are now under siege or around 20,000 syrians have been killed by the regime of assad and i think many syrians were hoping for an outside intervention or outside aid to provide some type of save zones. and i think the reality is that after the united states and nato had gone into libya it oust gadhafi, i think there will be far less appetite to want on do anything in syria. >> probably also raises huge questions about money from america that is going to fund some of these governments particularly in egypt where it's $1.5 billion plus another billion that was being put together in a package right now. how do you think that plays out in congress at this point? >> that's absolutely right. egypt is a country which has i think the second or third largest aid package from the united st
CNBC
Sep 12, 2012 2:00pm EDT
. in the united states we do need to bring the deficit down but we need sort of a fiscal ladder to bring it down 1% at a time. have you an economy that's shrinking, the best thing to do is to stop trying to cut the deficit of the current year, get growth going. then once you have 1% to 2% growth -- >> the trouble is you have to allow for economies to restructure. so if you don't bring -- in some cases, for example, with greece -- i'm sure michelle will tell us in spain as well -- if you don't cut back some of that government spending, you don't force any restructuring that's necessary to lay the foundation for growth. >> that's absolutely right. >> i can give you an important example of restructuring, guys? >> go ahead, michelle. >> here in spain, they have finally reformed some of the labor market. i was speaking with a labor attorney today. he said two years ago i was speaking with american multi-national subsidiary. they needed to cut their spending here in spain by 10%. they wanted to cut everybody's salary by 10% but very restrictive union collective bargaining agreements and labor laws do no
CNBC
Sep 7, 2012 3:00pm EDT
have a fiscal and monetary problem here in the united states. what will solve the problem right now? so far the fed doesn't seem to be able to create so many jobs right now. >> what bernanke said last week and i agree with him and the evidence points in this direction is the main reason we have an 9.1% unemployment is because of weak demand. if you're thinking about monetary or fiscal policy, on the fiscal side, it comes from tax cutting, spending increases, or both, and we have to worry about that. on the monetary side, what monetary authorities can do is reduce interest rates and try to reduce rates across a broad set of assets through qe policies. the fiscal and monetary side are trying to stimulate demand, and demand is missing to great stronger momentum. >> they're pushing on a string, rant they? >> the fed has the capability to act right now, and i think always, you know, again chairman ber knack key admitted that this policy tool is not a particularly strong tool. >> ben bernanke said that he creating two million jobs. they did analysis and said if not for what we had done, there
CNBC
Sep 12, 2012 7:00pm EDT
of the president of the united states. he deflects it and he attacks romney admitting this is a botched statement, holding the egypt government responsible for something like this is absolutely something they need to do if they want to have continued cooperation from the united states. >> and i want to ask peter brooks, old friend, so hillary says today in her comment that we reject these acts, quote, unquote, we reject these actions, but the president says later we will bring to justice. how he's going do that, i don't know. we will bring them to justice, peter brooks. what the hell does that mean? would you please tell me because to me, he is more interested in promoting these muslim states running through the art than he is promoting american influence and leadership in that region. that's what's got me really bugged, peter. how is he going to bring them to justice? >> i certainly can't channel president obama. i'm not the right person to do that. what i hope he means here is that the government of libya does not bring these guys to justice that we're going to take action including military ac
CNBC
Sep 12, 2012 9:00am EDT
in the united states. some indexes they watch on a weekly basis have been lower recently and that will fuel a lot of talk about a bit of a slowdown. front-running the fed, guys, did you see what happened yesterday? i pointed out some of the biggest etfs in the high yield area. i'm talking about j&k had heavy volume and hitting new highs. why is that happening? a lot of people believe at the minimum the fed is going to extend forward guidance to keep interest rates low to at least 2015. all of that would be a big beneficiary to high-yield funds who are forcing people to go out on the yield curve. this is one simple way people are already anticipating exactly what the fmoc is going to be doing. back to you. >> terrific, bob. got to ask rick. looks like people sell bond, shift bonds to the dollar. rick is at cm group in chicago. >> thank you. i guess we should welcome europe to the same club the u.s. is in. lots of liquidity. maybe more liquidity coming. and a generally weak economy. welcome to the club. if you look at our charts, they pretty much reflect a lot of what central banking is doing
CNBC
Sep 19, 2012 2:00pm EDT
service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. save 50% on banners. [ male announcer ] fedex office. syou know, i've helped a lot off people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) what a strange place. geico®. fif
CNBC
Sep 12, 2012 1:00pm EDT
penetrated than the united states. there is a big opportunity. >> to that point i can tell you foreign policy jon fortt who is inside there, tim cook is showing a video of the barcelona store opening now saying they have 380 stores in 12 countries, 13th country sweden is coming. 1 million people around the world using apple's products. peter, apart from the iphone 5, what else will move the stock here? >> be interesting to see if there's anything along the lines of -- well, we know they'll talk about a facebook integration. we don't expect to hear much about music and tv and movies. if there is much there, that will be an interesting surprise as well. john barr, you've clearly got skin in the game. let me tell you now, more news coming from tim cook. he's talking about the recent mac updates, including mountain lion. he says apple notebook is now number one in market share in the united states over the last three months at 27%. that probably won't surprise you. what do you want to hear, here on in? >> we've been long term investors in apple due to their ability to generate great new products.
CNBC
Sep 18, 2012 6:00am EDT
to us by the congress of the united states which represents the american people. >> what does that mean in terms of numbers? >> 2% growth. >> are we at two? kevin was very careful, he went 1.5 to 1.75. >> that's very precise. >> i want basis points. >> decimal points is silly stuff, come on, joe. >> i know. >> there is positive growth, it's just not robust and the key point, it's not enough to create the jobs we need in this country. now, i argue and i argue forcefully, i'll give a speech on this tomorrow night here in new york, the reason we have so much uncertainty is not just uncertainty about europe and uncertainty about the slowdown in china, these are important things. the real uncertainty stems from what are my taxes going to be? what kind of spending pattern also come out of the federal government, how do i deal with this explosion of regulatory morass we have coming out of washington. how do you budget whether you are exxon or a little bitty 20-person company, how does the woman who runs that company or the man who runs that company budget when they have no idea what their cost
CNBC
Sep 28, 2012 9:00am EDT
this morning. they'll just try to get a share of the touch screen market in the united states. to your point about cash going out, more smart phones being sold than expected it is still a big shortage so the move today, is that indicative of -- >> they're not going out of business. >> even though the core operations remain unprofitable. their cash build was 2.3 from 2.2 on the quarter. >> they had more cash than previously. >> and their shipments continue to go down. they bleed people. >> you have the developing countries now. >> the pricing pressure is greater. >> there's always ban thought someone would buy them. but people felt why buy them because they'll run out of money and when they run out of money you can get them for nothing and you get all that intellectual property for nothing. there's a lot of companies that wish they had that keyboard patent. maybe that is worth something. i'm just saying that, look. i want the blackberry 10 to ship earlier. i thought becky's interview was terrific. it's very difficult to be as negative as you might have been before knowing that the restructuri
CNBC
Sep 20, 2012 6:00pm EDT
's been stuck in the 9 $9 to $12 for almost a ye now. >> it's fort d in the united states, and there's the ford from overseas. europe bad, latin-american, bad. bed bath and beyond, norfolk southern, two different kind of businesses. norfolk is going off the rails, bed bad, looking good. >> coming up, bargain shopping? retailers have been on the rise, but after perusing the aisles cramer has --. >>> and later, making dough, dominos has been -- find us if it can claim the upper crust of the pizza population, when the ceo breaks some news in cramer's exclusive. just ahead. >>> plus 'tis the season? millions of people around the world will get their hands on the highly anticipated crown jewel of the apple empire. iphone 5, but don't, get ready to though everything you think you know about tech out the window. cramer's looking beyond apple and what he says may surprise you. all coming up on "mad money." >>> any moment there's stocks that might rally for a week or month or a season before they only go out of style. and then there are the long-term opportunities that we search for all the t
CNBC
Sep 27, 2012 6:00pm EDT
.2 million people infected with hiv here in the united states, jim and about 20% to 25% of those individuals are unaware that they're affected. and what's most concerning is it's those individuals who are affected but unaware. they're responsible for 50 to 70% of the forward transmission. so our objective is to put it out there to make it easier for people to know their history status. >> do you envision a world where someone has unprotected sex, they would go to the drugstore and get this within 72 hours? >> we have spent a lot of time making sure consumers can understand the appropriate use of the product. it's not designed to detect infection immediately after someone is infected. but it's the exactly the same technology that's used in doctors offices and the public health centers. this is the rapid leading history test in the united states and now we're making it available to consumers. >> our show has been focused on hepatitis c. you've got a test for it, but you just don't think -- you talk about it as a billion dollar opportunity, but it's not as big for your company as this one. >> w
CNBC
Sep 4, 2012 2:00pm EDT
to the united states, especially in real estate. >>> the three bear cases for stocks, the same one, europe-china slowdown, also the bear case because we don't know how the movie is going to end. if you listen to the rabinni's of the world, we're all doomed. average company growth is slowing so the market may not command as high of a multiple and yield, fiscal cliff and we will pull a thelma and louise unless congress gets their act in gear. >> you just heard from brian the bull case and the bear case. let's see what our guests think. james camp, manager and bob. thank you very much for joining us. bob, i will start with you. you have to pick one, bear or bull for september. can't be raccoon or koala or wallaby. >> you will see a market impacted because of concerns out there. i mentioned, you still have europe, you still have china, you still have the fiscal cliff, the election, which will be very contentious. you take a look at what's actually going on, you actually have plan in europe and that will materialize. >> we have a plan? we really do this time? we heard many times we have a plan
CNBC
Sep 20, 2012 11:00pm EDT
that the united states and that is enfuego. that's focus. then the ford from overseas. europe, bad. latin-america bad. guess what? two against one. can't own it. bed bath and beyond, norfolk southern. two different companies, two industries. norfolk is calling off the rails. i don't want to be no norfolk. bed bath, looking good. stay with cramer. >>> kwuming up, bargain shopping? retailers have been on the rise. but after perusing the aisles, cramer spotted bun stock that could be available in a discount. as the holiday season heats up, can this make you a cool profit in stick around it find out. >>> and later, making dough. domino says increasing its share of the pie and giving investors a healthy slice of the profit. but can this pizza party continue? find out if it can flame the upper crust of the peas why population, when the ceo breaks news in cramer's exclusive. just ahead. >>> plus, tis the season. in just hours. millions of people around the world, will get their hands on the highly anticipated crown jewel of the apple empire. iphone 5. but tonight, get ready to throw everything y
CNBC
Sep 21, 2012 1:00pm EDT
able to read that the united states is not as prepared as it should be for this type of cyber attack. >> we're not anywhere where we need to be in terms of a country with respect to preparedness and ultimately in response. the head of cyber command, general keith alexander, i think put it best when asked to evaluate one to ten where the u.s. capability is. he put it at a three. obviously this is not a very good position to be in, especially when you have a number of actors out there. china and russia are very active in terms of computer network exploit. that's espionage in cyberspace. they're increasingly integrating cyber warfare into their military planning and war fighting capabilities. these are all issues we need to take very seriously and we need to enhance our own defensive capabilities as well as invest on the offensive side as we will never firewall our way out of the problem. initiative resides with the attacker. >> is it a money issue? is it an investment of money issue in the infrastructure to combat this kind of crime? or is there something else that the united states sh
CNBC
Sep 4, 2012 11:00pm EDT
day now. let's take the three big bad/good battlegrounds. china, europe, and the united states. look, we know that china used to be one of the world's great growth engines. it almost singlehandedly kept the global economy afloat during the global recession as the chinese communists figured out how to spur domestic spending. but after playing the role of the world's economic engine for so long, the chinese locomotive seems to be in danger of running off the rails. each piece of data is weaker than the last. so what's good about that? well, much of the slowdown in china seems somewhat self-inflicted. when the pure si realized it overstimulated the economy, governments hit the brakes and in many ways still seems like it's happening. the hope is that the chinese will stop stepping on the brake pedal but start cutting rates, adding real ago taken to the downshift in their economy. how about europe? the european central bank meeting this week and we're expecting to hear some chatter in unison that's going to reverse the declining economies over there and maybe unite to save the spanish ban
CNBC
Sep 10, 2012 1:00pm EDT
. >>> the drenching that parts of the united states got last week, including tornadoes out in queens, not really helping parched farmland. there are no farms in queens, are there? this afternoon we're going to get exclusive details on the economic impact from our senior economics reporter steve leisman. he's here live. >> in about three minutes we're going to get an e-mail from the guy that runs the farm in queens. it is a big impact from what's a small sector of the economy and it could even have an impact on the presidential election. in a detailed study of the summer's drought which scored soybeans, corn and other crops across the nation, macro economic advisors out of st. louis estimate it could shave as much as a half point off gross domestic product this year. that's a big hit to a $13 trillion economy from a total farm sector that accounts for just -- wait for it now -- 1% of the nation's output. ben herzon is the economist who did the study. pe explai he explains the drought's outside impact. >> even though it only accounts for 1% of the economy, big changes in farm output can show up in
CNBC
Sep 17, 2012 2:00pm EDT
in the united states. i think there's huge risk. i think they've already hurt themselves from being the fourth work stoppage in 20 years. >> brian schactman, thank you. eric, thank you very much. >>> let's get back to the markets now and get a market flash. >>> some potentially negative news for groupon out. raymond james releasing a survey of more than 100 merchant partners say 30% of merchants surveyed say they were unsatisfied or very unsatisfied. we've lost 75% in this stock since it's gone public and down today more than 7% under $5. >> keeps getting tougher for groupon. >>> up next, herb delivering two high-flying stocks that he thinks could fall this fall. >>> and you know what's not falling? blimps. the business of blimps is booming. stl is that, my friends, the future of flight? questions? anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ phillips' lady ] live the regular life. phillips'. governor of getting it done. you know
CNBC
Sep 28, 2012 2:00pm EDT
here at home in the united states but you're not really so sure about the exporting equation. why not? >> well, i mean, like you're saying, the natural gas prices have been increasing lately. that's because of increased domestic demand, particularly in the electric power sector where for the first time in american history we're fuelling more power plants with natural gas than with coal. the concern about ramping up exports of natural gas to a significant degree, we've got almost 15 proposed export terminals across the country. is it's going to be another form of demand which is going to increase prices. in fact, earlier this year the energy information administration estimated that if we export that gas, prices are going to rise at least 30%. and so that's of concern not just the household customers but also to industrial customers that are seeking to expand manufacturing capacity here in the united states. >> so you're saying at least 30%. but david with the volume of exports that we're potentially talking here, how much of a significant impact would you expect to see on prices reali
CNBC
Sep 24, 2012 4:00am EDT
doing well and running their plants at full capacity. obviously helped from sales in the united states and china. and then you have the latins, french and italians facing substantial issues of sales and excess capacity. fiat closed a factory in siscil, but that was done at financial costs. >> as an investor, all the political pressure to stay in italy comes potentially at what might be in the company's best interests longer term. >> i think will is really the issue. i think one of the quid pro quo for closing the plant in sicily was to actually at least bring more production back into italy from poland and this is the new one they started producing at the beginning of the year and they already announced short time working so it's still not selling. >> is that reflective of concerns in europe or does it scare with what we heard out of daimler which was talk about slowing europe and china sales trends. >> daimler and mercedes specifically highlighted problems in southern europe. that plays into fiat's main market. >> and meanwhile journalist who had the story we're talking about fiat now
CNBC
Sep 11, 2012 9:00am EDT
competitors to step up the game in order for mcdonald's to start missing here in the united states. what will mcdonald's force to be done? and will that be good from an investor standpoint? how much will they have to give up maybe in terms of margins in order to get those customers back, for instance? >> you know, i think it's a combination of being more aggressive on the dollar menu. they will give a little bit on the margin side and we have near term caution on that particular point. but i also think they have a pretty nice product pipeline shaping up for 2013, which gives us excitement, and it's one of the reasons why mcdonald's is one of our favorite medium term names in the space. we do have some caution based on more difficult comparisons that show up in the fourth quarter as well as the threat of higher food costs that are going to pay out early next year. >> we should point out that with 104th on the price target. jim, we hear again from r.j. about food costs. actually the flip side of this is that we have a very weak labor market in the united states. so for as long as we're not
CNBC
Sep 17, 2012 9:00am EDT
the united states does not talk about trickle-up economics, take that 80%, educate them, make them pay taxes, and stop charging the top 5% more and more for what they create. why is that conversation not happening here? >> well, that's part of why inet, the institute for new economic thinking, was founded. james heckman at university of chicago and nobel prize-winning economist and i are working on a major program. we have 179 people worldwide on early-age human capital, early-age education which includes public health. >> you just have to put more resources into the education system to make it work. >> and better allocation of incentives, absolutely right. you're talking about a national tragedy. >> the word "resources" is loaded especially this week when we've got chicago teachers facing a potential injunction. >> yes. >> overturning citizens united, right, is not going to -- is not going to pacify what's happening outside. >> mm-hmm. >> neither is paying teachers more or giving them a shorter school year. right? >> i think if you paid teachers more, say relative to other professions, you
CNBC
Sep 24, 2012 3:00pm EDT
renaissance. we're gaining market share here in the united states and the riots in china over the weekend support our notion that in the future do you want to put manufacturing facilities overseas or in the united states? this weekend is why you want to put them in the united states. >> peter, tell me what the market right now is saying to you. it would seem to me that since bernanke came out a week or so ago with the announcement of qe3 that the market has kind of moved back a little bit. we've had a few sort of down days as though the market were saying, he gave us what we expected and now it's time to get a little smart. >> it's time to get smart. the earning season could be choppy. i think a lot of people are waiting for that. actually, that's a smart move. don't think you'll see much in the next probably three weeks that will motivate anybody in either direction very seriously. i would like to say i'm a little more positive about it. i think i might be in the minority on this, but i do think we'll probably see some surprises -- >> you got the earnings season right up against the elec
CNBC
Sep 28, 2012 3:00pm EDT
moved, not by what's going on here in the united states, but what's been going on in europe, which says to me two things. one, any bad news out of europe is going to send the market down. two, eventually people are going to have to pay attention to what's going on in the united states. i'm expecting we're heading into earnings season, i'm expecting anemic growth, and eventually that's going to have to play into the situation here. i mean, i know you don't fight the fed, but eventually we have to come back to what's going on in terms of fundamentals and stop focusing on monetary policy. >> what do you think? are we going to focus on fundamentals? if you are, kurt, would you be a seller of this market? >> we are focused in on fundamentals. i think this has been a tug of war between the reflationists and some of the risk that's been perceived in the market. we're not investing in gdp. we're investing in earnings. so far, earnings has held up. so far this year the stock market has been doing well. we'll focus on earnings. in terms of am i a buyer here, i'm taking selective positions because
CNBC
Sep 6, 2012 12:00pm EDT
% funded by the united states, germany, france, united states, china, japan, they will all kick in and do what they have to do to kick the can down the road. i think that's what's happening. we're not solving the problem. we're dealing with it and kicking it down the road. the third area i think would make a big difference and not to get involved in politics about as difficult to talk about as abortion but i think a romney victory would put the market above the range where we are at presently and i am kind of thinking if i had to handicap it if a romney victory, let me just say that the significance of an event for the market is very much a function of where the market is when the event occurs. i say from the roughly 1400 area a romney victory would add 100 points to the s&p and an obama victory would probably be maybe a 50-point decline. i think it is very important. we're at a crucial point in economic history of the country and i think what happens in november is very important. >> tom lee of j.p. morgan was on one of the earlier programs this morning talk in the same measure on what a
CNBC
Sep 19, 2012 11:00pm EDT
30 times before it runs out of room to ignite that economy. unlike europe and the united states, the policy makers in china have plenty of room to maneuver, and that fact seems to be endlessly forgotten by the bears who point this out daily. sure, many of their banks are bankrupt. i'm not saying that i don't trust -- hey, they built a ton of bridges and tunnels to nowhere, but never underestimate the problem-solving power of cash on the balance sheet. and china's got cash up the yazoo if not the yangtze for good measure. then there is the united states. here we have the fiscal cliff. the fiscal cliff is something we have moderate control over because it's a question of political will. it can be resolved. anything that can be resolved will be dealt with in some fashion. and i think that's why the stock market has been climbing despite the obvious chasm ahead of us. sure, there are other reasons that could cause the selloff stocks. stocks have had a big run. valuations getting stretched if we have little growth ahead of us. twice in the last month federal express, man, they disapp
CNBC
Sep 24, 2012 1:00pm EDT
of factory jobs are like that in the united states. that's the nature of a factory. >> one final question, if i might. how long does your intelligence indicate that this plant may be offline? >> that's the critical question. they were saying it could be up as soon as tomorrow. i actually think we've not heard the end of this news. i think we'll see more bad news regarding nurse which could theoretically keep this factory closed for up to a week or maybe more if we end up seeing deaths. >> gentlemen, thank you very much. appreciate you being with us. >> ty, as you know, another big apple story today, the company selling more of its 5 million iphone 5s in the first three days after that product was launched. a note from jpmorgan says, by the way, that that does not include pre-orders, and then there's yahoo!. the shares of yahoo! today are on the upside by more than 5% in a month as the new ceo, marisa mayer, gets set to address the troops tomorrow. jon fortt is helping us get ahead of this particular story. >> tomorrow's meeting is only for employees, not inviting the media, not asking dir
CNBC
Sep 19, 2012 1:00pm EDT
put an all-in with regard to quantitativizing in the united states. you don't fight the bang of england, the bank of japan, people's bank of china, the ecb and the fed. this ends up being good for risk assets over the next 6 to 12 months. we've added stocks to european equity, looking at emerging markets again which has lagged. ironically specifically in asia, in a follow-up to the chinese context right now. but there is a lot of opportunity right now. >> what about china? michelle set up some of the diplomatic tiffs going on between china and japan. if you look at china's economy, a lot of people have written china off in terms of its investment potential near-term. doesn't sound like you were doing that. >> i think people are overembellishing the downside. valuation show we're at significant discounts but in a very nacent domestic value. we're missing point with regard to 7% 208% growth is still very dynamic in china. they have beter response to the global markets. i think the reality to china is we don't want continued expectation of 10% growth. we want 7% growth domestic
CNBC
Sep 21, 2012 2:00pm EDT
in the world. we'll debate what it means for your money and what it means for us in the united states. i can do anything ♪ i can do anything today ♪ i can go anywhere ♪ i can go anywhere today ♪ la la la la la la la [ male announcer ] dow solutions help millions of people by helping to make gluten free bread that doesn't taste gluten free. together, the elements of science and the human element can solve anything. solutionism. the new optimism. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only n
CNBC
Sep 7, 2012 9:00am EDT
that word, the auto industry of the united states at that time? >> it sounds like rhetoric. but -- and it is rhetoric, i guess, because it's words. but i think they're actually factual words. president bush and hank paulson agree because they were the first ones to provide capital to the auto industry. if the government had not stepped in, these companies would have had to literally shut their doors, they would have run out of cash, had to lay off their workers. the suppliers would have gone down. ford would have gone down. the industry would have shut down. whether it would have ultimately liquidated would depend on what would have happened after that. >> that is not the case. and in fact we got some very strong numbers earlier this week. are you surprised at the strength of auto sales at this point? >> no, i'm not surprised because you need to sell 15 million cars a year in this country simply to keep the fleet from aging. and we have not done that now for over four years. this is unprecedented in american history. so you have a huge amount of pent-up demand for cars beca
CNBC
Sep 4, 2012 1:00pm EDT
limited in the united states. and shares of ford and gm, one more thing to keep in mind, these stocks might be getting bounce in part because on the conference calls between ford and gm, their pickup sales were improving because of the housing market, a slight recovery there. it's a little early to say a big bounce but there is positive signs of the housing market helping pickup truck sales. >> thank you. >>> now, it is the democrats' turn. delegates are getting settled down in charlotte, north carolina and our chief washington correspondent is in nascar country live. john. >> reporter: this is the week democrats get to answer all the grief they took from republicans last week, largely about the economy. it's a complicated question. paul ryan was on the campaign trail yesterday posing the question ronald reagan posed to jimmy carter very devastatingly effective at that time. here's paul ryan. >> when you take a look at what we're going to hear in charlotte today, the president can say a lot of things, and he will, but he can't tell you that you're better off. simply put, the jimmy car
CNBC
Sep 12, 2012 11:00pm EDT
transplants here in the united states. even with a transplant, the hepatitis will go right on attacking the new liver. this is a huge disease. it afflicts 170 million people around the world. which from a human perspective is just terrible, tragic. from a business perspective, these companies are involved. hep c can be a $20 million market opportunity. it's too darn good for many drug companies to pass up. now, i've talked about the game-changing new drugs developed for hep c on the show. but in recent months, there's been a reshuffling, major changes in the competitive race. i've got to keep you up on it. that's why tonight, i want to keep this opportunity in front of you and let you know who will benefit the most from the reshuffling of the order, the changes that have gone on and who can be the winners here. there are a lot of horses in this race. there was bristol-myers, abbott labs, gilead, merck, johnson & johnson, aventis. six months ago bristol-myers was in the definite lead. but one of the patients taking their hep c drug in the clinical trial had a heart attack. and the compan
CNBC
Sep 14, 2012 9:00am EDT
percentage of its revenues come from outside the united states and this is a smaller market cap as a spinoff so it was a logical replacement. >> i will see you first, don't buy united health. there's very little money. my hands are different color from my face. what does that mean? there's makeup. >> the dow jones industrial average, the price pointed index which should have absolutely no meaning but they have to keep doing it that way because that's the way they started. everybody follows the s&p but we talk about the dow jones because that's what you hear about on the radio. >> this is the opportunity for the dow to go higher. kraft very levered to commodity costs. particularly we know that the big inflationary trend is food. okay? and they're a huge buyer of all of these commodities. united health, very little commodity costs so you get kind of an inflation break that deals with ben's pro-inflation strategy yesterday. >> this is the first change to the dow jones industrial average since 2009. just to your point that nobody follows the dow jones industrial average, how much money is actual
CNBC
Sep 21, 2012 6:00am EDT
of a significant downturn in the united states economy. >> so if you have a downturn, there's a possibility that you don't have that right mix and that you could have a downturn. the odds of that are comparatively low but i worry about it because it's significant possibility. i described it as though, imagine you're on an airplane that's flying from here to los angeles, you're probably going to get there okay but if you hit an air pocket and meaning if the economy goes down, there's not an easy way to reverse it. monetary policy is less effective because when you buy a bond, when the federal reserve makes a purchase, that has the effect of giving money to somebody who won't put that money into something like that bond. and that money does not easily go to people who spend it, that's a balance between monetary and fiscal policy and i worry about the policymakers getting that balance right. that's a possibility and a scary possibility. other than that, i think the most likely situation is we will fly successfully from here to los angeles essentially but we have longer risks. you need a balanc
CNBC
Sep 24, 2012 6:00am EDT
the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150 years of experience to help you get there. ♪ >>> "squawk box" keeping our eyes on the prize, its eight a "squawk" oil summit. the smartest minds in the industry. >>> safeguarding your online reputation. the founde
CNBC
Sep 27, 2012 9:00am EDT
. but here in the united states, with respect to the rally, i'm getting a large number of questions. we're getting a large number of questions about whether or not the stimulus boost from federal reserve easing is what it used to be, so to speak. i would remind people take a look at the last couple of instances, we've had similar measures. we've had similar instances of people wondering whether the fed was -- if i had $1 for every time we talked about the fed being out of bullets, i'd have lots of dollars. and we're going through that again. >> they would all be worth less. >> the previous dollar, yes. >> less than maybe ten years ago. not necessarily less than five years ago. >> shame on you for that populist comment there that you should be cutting taxes in europe. at what point do you think the spanish are going to cut taxes given the situation that they're in? shame on you for appealing to your republican base in such a shameless way. >> btig's clients would be interested to know that i had a republican base, but listen. at the end of the day, there isn't a sort of a one-size-fits-a
CNBC
Sep 5, 2012 9:00am EDT
of the market. it is in the hands of the eflt cb not the hands of united states. >> we should point out tomorrow we will get some sort of plan or are expecting to from the ecb perhaps some details about a bond buying plan of some kind that we're hearing some things about today. the market may be disappointed in that these reports seem to indicate they'd be targeting three years and less in terms of maturity. that they would not have a yield target perhaps, say we're not going to let it go above 7%, and that it would be sterilized purchases. there are some who believe, hey, you need to actually increase the money supply. really if you're going to get things moving in europe but of course the germans are always concerned about inflation and sterilization which basically means they'll try and take in as much in deposits as they buy in bonds. sort of keeping -- >> somebody tweeted this morning fed bernanke needs to show them how you really print money. and, jim, one other facet of this report is that the head of the bach the german still remains the one lone hold out to this bond buying policy meani
CNBC
Sep 13, 2012 9:00am EDT
aren't moving anywhere. it's on hope they can get it rationalized. united states is on fire and everyone keeps saying why can't we buy ford. because of latin america and europe. >> facebook, a bit backward looking, but the best day yesterday since that ipo. it's almost you can't say ipo without saying botched ipo. that's the way everybody says it. was there a turn yesterday? >> i think that you're going to have a well p like situation is what people hope. yelp was a giant lock up that expired and all the shorts were piled on. it went up seven. you have to bet that everyone is overly short facebook to get this thing going. i think it's more of the dynamics of the lock up in actual earnings. >> the big lock up is coming november and by november, we'll have more than a million shares hit the market. >> that's a big lock up to overcome. >> aig was remarkable. had 600 million shares hit, but aig of course was valued at half book. facebook, not valued at half book. >> taking a look at the financials, it is worth noting because xlf closed at five-month highs. taking a bit of a brea
CNBC
Sep 18, 2012 9:00am EDT
been made of their failure to invest and promote the pepsi brand for soda within the united states. how relevant now is the home market for investors when, for example, coke is suggesting they will invest $30 billion over the next two or three years with the bot lers to double consumption around the world? >> it's a great question. so there's been a terrific change of heart at pepsi. this year about $600 million of advertising spending behind the businesses, the bulk of that is going to happen in north america. you probably just saw they sign add deal with the nfl. clearly they feel the pressure and want to start growing some of their businesses here at home again. >> and how does that compare to mao tau kent and the mass everybody bottlers worldwide. >> remember, coke bought their bottle in the u.s. so they have a lot more skin in the game. the good die naming here on the beverage side is guys are kind of getting along and playing nicely for the first time in a while. i think they want to make more money. they're cognizant of the economic. they're making the pack sizes smaller and lift
CNBC
Sep 21, 2012 9:00am EDT
's happening in the united states. >> certainly that's going to bring down the large indices and i just wonder if you think in the fourth quarter there will be a put from central banks or from hedge fund managers that have to play catchup or could we look at the last three months last year? >> central banks are obviously very powerful. you know the old saying, don't fight the fed. you have to be very careful. but as you stretch out the time rise and what you find historically is there is no relationship between liquidity and stock market movement. but i think what's much more important is your original question, if the profit cycle continues to decelerate, i think that's what people want to think about and that's what people want to position their portfolios for. i still think personally that you want to look at more defensive sectors which i think are less prone to have these big earnings disappointments right now. >> rich, can you put together these two knows in the market that you want to be in more dmfticily oriented companies and also this other thought in the market that you want to be i
CNBC
Sep 6, 2012 9:00am EDT
's the best case scenario. >> does allow us to focus on the united states. >> exactly. >> we're probably doing better than any economy in the world. >> you're not trying to whistle past graveyards on that front, right? you're not trying to ignore europe. >> melissa mentioned the trading perspective. i think that the traders are saying, okay, now, what do we have here, and when we look at here, well, why don't we see with the steel industry, the auto industry. we focus -- the fill lebeau interview was incredibly important where allan mull ha ly says europe, we don't have it. the truth is united states has it. 14.5 million vehicles. that is a bull market in cars. >> right. >> we are talking about this upgrade today. sun trust, why is sun trust upgraded? i think that's very significant, not just because my trust owns it, but i'm looking at sun trust saying that is, again, the housing market in the south because the federal reserve didn't like sun trust. housing, autos, retail. what else do we need? >> right. >> well, we could use china to start growing a little bit faster instead of going the oth
CNBC
Sep 11, 2012 2:00pm EDT
and the economy of the united states? >> hi, brian, hi, rick, if you added 1% to the cbo baseline, would you get 11.7 trillion more dollars in gdp over the next ten years. that would translate into over $2 trillion of revenues for the government. and so you would really have a bigger pie. i was laughing when rick was going through that big pie, but i think it's a good analogy. >> i will stick with that more than $11 trillion, bigger than we have heard about any spending cuts anything, boles-simpson that is a big number. how hard is it to get another 100 basis points out of economic growth? >> you know, i think it's quite doable, if you think about what the economy's struggling under right now, in both 2010 and again now, it's that year-end tax increase, which causes businesses not to invest. so one simple thing to add to the growth rate is simply take that off the table, make a decision, are you gonna keep the current rates or are you gonna change the rates and get it done now rather than let it hang over. so, we need -- i think we need lower rates on a broader base. we also need some concept of
CNBC
Sep 12, 2012 3:00pm EDT
those good things. so you can start ordering them on friday. it starts deliveries in the united states the following friday on the 21st. we'll have more on this coming up all day here. let's get to brian shactman with his market flash. >> thank you very much, bill. there is news out there outside of apple. i want to take a look at dole foods, the iconic brand now a smaller cap company just under $1 billion. right around 1:00, the nikkei reported. the headline and the subheader, they reported a japanese company was acquire two dole food units for $1.7 billion. the subhead says they hope to reach an agreement this month. the price spiked. the stock is up 10%. back to you. >> thank you so much, brian. if world investors are right, get ready for another intervention to boost the economy. >> mean time, we're going to talk about whether it's needed or not. peter says any fed action is not going to help and it's wrong. others say the economy needs it right now. let's talk about it and get your perspective on this. peter, you saw the employment numbers last friday. you don't think we need more
CNBC
Sep 19, 2012 6:00pm EDT
sheet. and china's got cash up the yazoo if not the yangtze is for good mesh. then the united states. here we have the fiscal cliff. the fiscal cliff is something we have moderate control over because it's a question of political will. kit be resolved. anything that can be resolved will be dealt with in some fashion. and i think that's why the stock market has been climbing despite the obvious chasm ahead of us. sure, there are other reasons that could cause the sell of stocks. valuations getting stretched if we have little growth ahead of us. twice in the last month federal express, man, they disappointed. twice, twice. it's been a real tale of woe. [ crying ] and what has happened? frankly, nothing. stock's pretty much unchanged. tonight we got a big disappointment from norfolk southern, the railroad. while the stock is being hit after hours, you know what? i bet you buyers come in and snap it up tomorrow at what will be considered real bargain prices a few weeks from now. that's because in this tape, in this market, disappointing earnings don't necessarily produce disappointing an
CNBC
Sep 26, 2012 11:00pm EDT
, the united states. some income producers, growth names and stocks with solid dividend boosts and, of course, some gold. these have been the correct calls to make. i've stuck with this market because i believe europeans are not suicidal. so far so good on that front. at least of late. i believe chinese economy will simply come back by virtue of the fact there's a tremendous urban migration within china. i believe the federal reserve's stance, brought about you by ben bernanke, will serve as a bridge over fiscal cliff and not take us down. the federal stance will take higher paying dividend companies into gems, seeking income, we'll band in bonds of cash poor countries and buy cash rick countries with yields that well exceed treasuries and still own a lot of gold. there's not a nation on earth that doesn't want its currency lower. that reserve currency is gold. also not to toot my own horn too hard, but throughout this period i recognized primecy of some bigger stocks, intel, wells fargo, verizon come to mind or the recognition you must own, not trade, own apple until it's too expensive versu
CNBC
Sep 25, 2012 6:00pm EDT
units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. boproductivity up, costs down, thtime to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. >>> what should you do with apple after the beating it has taken for the last couple of days. if you are thinking of buying a text document for a couple of days. after apple $17.25 crushing today on top of yesterday's hideous loss. tonight we are going to go off the charts. we are going to figure out where apple's stock might be headed and what you should do about it. chief strategist author and before we get into the details i want to point out that when it comes to apple, back on may 22nd, the stock had experienced a nasty pullback just as this one. h
CNBC
Sep 12, 2012 6:00am EDT
tarp was one of the worst economic decisions in the history of the united states. >> okay. so like i said, he does not hold back on anything he's thinking about. he will be our guest host for two hours today, and that begins at 7:00 eastern. we are also going to be talking finance with the ceo of cowen and company, jeffrey solomon, and bill isaac. plus the state of innovation, steve case will be joining us live at 7:30 eastern time. so we have a big show ahead. before we get to all of that, let's get you up to speed on the morning's headlines. andrew, good morning. >> thanks, becky. good morning to you. we will get you caught up on some of the big headlines. germany's highest court ruling that the country can ratify the new permanent european bailout fund, but there are conditions to germany's participation. here's the important part. parliament will have veto power over any future increases. we'll have more on that story in just a few moments. back here in the u.s., the fed is beginning to begin convening a two-day policy setting meeting in washington. market expectations high. many
CNBC
Sep 19, 2012 9:00am EDT
some growth and the country is the united states. >> and we don't have the demographic. >> no, we don't. where they are selling more adult diapers than baby diapers. >> kimberly-clark. >> the aging of this country will accelerate. >> we're selling fewer baby diapers, let's be clear. there are fewer babies being born. >> right. it's a declining population as well to a certain extent and the dramatic age -- >> right. i think that our household formation was a cyclical decline related to the recession. i wouldn't be sur poised if the 1.85 children per house, i find it hard to reconcile that. it goes back to two and we see a gradual choice in housing. people were living with their mother-in-laws, and i had that experience. it's tentative. >> now you're in your car, you weren't living with your mother-in-law, you were in your car. >> live inning my car with a couple of kids and it wasn't -- an suv, that would have been an svu situation. reverse the letters. >> if everyone is debasing their currency, is anyone debasing their currency? >> that's a great question. >> a race to the bottom. >>
CNBC
Sep 5, 2012 4:00am EDT
as well as in the united states. >> markets saying these figures point to eurozone contraction of 0.5% in qe. what's your outlook? >> it's in line with our numbers. we think for the full year the eurozone contracts at 0.4% rate, so not far off what you suggested and that seems to be consistent with the underlying data coming in. no real revisions just yet but we'll watch and wait. >> what about 2013, is that a year -- 2012 we see europe broadly contracting. what about 2013? >> a lot hinges on the global environment. hinges on whether the u.s. can slowly grow and maybe grow a bit faster. whether china can begin to pick up steam. external stories can be critical for europe. >> larry will stay with us. let's check in and check out market reaction. >> one hour into european trading session. 73 declining outpacers. ftse 100 down 1.5% yesterday. down 0.5%. dragged yesterday by u.s. disappointing. the xet ra dax down 0.3%. ibex down after a good rise in july. keep your eye on bond rates. yesterday we had a nice rally in spain on two-year. ten-year, 6.62%. that's slightly higher on the sess
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